CPFL says shareholder Energia SP FIA to exercise tag-along rights

SAO PAULO, Sept 28 (Reuters) - Brazilian power company CPFL Energia SA shareholder Energia São Paulo Fundo de Investimento em Ações has decided to exercise tag-along rights in a deal with China’s State Grid Corp, according to a securities filing by CPFL on Wendesday.

State Grid is buying a controlling stake in CPFL from Brazilian engineering conglomerate Camargo Corea, opening the way for other shareholders to exercise their so-called tag-along rights and also sell their shares in the company. CPFL said it was waiting to be notified of Energia SP FIA formally exercising its tag-along rights, the filing added. (Reporting by Bruno Federowski and Paula Laier; Editing by Chizu Nomiyama)